FedEx is no "unicorn stock," Oglenski said, but it is the firm's top pick when "left choosing between less than ideal outcomes" among transportation companies. Barclays sees FedEx stock gaining 20 percent from Wednesday's close at $225.93.

"A solid backdrop for global transportation demand and greater focus on properly pricing the robust but less efficient ecommerce growth should help assuage many market fears, leaving plenty of upside potential in FedEx," Oglenski wrote.